30% Dividend! Multibagger Small Cap Stock Hits Back-To-Back Upper Circuit, Set To Trade Ex-Dividend

The share price of International Combustion (India) Ltd. hit back-to-back 4 upper circuit this week on July 20, July 25, July 26, and today, July 27. The stock hit 5% upper circuit today at Rs 891.10 apiece on BSE. It gave 274.10% multibagger return in 1 year, while in 1 week it gave 23.29% strong return.

The stock is soon to trade ex-dividend, on Aug 23, 2023. On June 07, 2023, the Board had the fixed Record Date for the Dividend of Rs 3 per equity share i.e., 30% of face value of Rs 10/- each for the financial year 2022-23.

The Board of Directors of the company in an exchange filing has said, "The Register of Members and Share Transfer Books of the Company shall remain closed from Thursday, 24th August, 2023 to Wednesday, 30 August, 2023 (both days inclusive) for the purpose of holding the said AGM and for the purpose of payment of dividend @ 30% Le. Rs. 3/- per equity share of the nominal/ face value of Rs. 10/- each for the Financial Year ended 31% March, 2023, if declared by the shareholders at the said AGM."

It further added, "Accordingly, the record date for the purpose of payment of the said dividend shall be Wednesday, 23rd August, 2023, i.e. the members whose names appear in the Register of Members of the Company at the close of business on Wednesday, 23rd August, 2023, shall alone be entitled to the said Dividend."

About - International Combustion (India) Ltd.

International Combustion commenced operations in the year 1936 based in Calcutta as a trading house representing the interests of International Combustion, U.K. In 1974 the Company changed its status from Private to Public Limited Company. In 1961, the Company started its manufacturing activities. The company has a market cap of Rs 213 Crore.

Disclaimer - The stock just highlights the dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.